In the last trading session, 16,724,821 shares of the Zynga Inc. (NASDAQ:ZNGA) were traded, and its beta was 0.08. Most recently the company’s share price was $10.54, and it changed around -$0.12 or -0.01% from the last close, which brings the market valuation of the company to $11.44 Billion. ZNGA currently trades at a discount to its 52-week high of $12.32, offering almost -16.89% off that amount. The share price’s 52-week low was $6.5, which indicates that the current value has risen by an impressive 38.33% since then. We note from Zynga Inc.’s average daily trading volume that its 10-day average is 12.75 Million shares, with the 3-month average coming to 23.1 Million.
Zynga Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.9. If we narrow it down even further, the data shows that 1 out of 20 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended ZNGA as a Hold, whereas 16 deemed it a Buy, and no one rated it as Underweight. Zynga Inc. is expected to report earnings per share of $0.09 for the current quarter.
Zynga Inc. (NASDAQ:ZNGA): Trading Information
Although ZNGA has showed a red trend with a performance of -1.13% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $10.75 on Tuesday, Apr 06 increased the stock’s daily price by 1.95%. The company’s shares are currently up 0.07% year-to-date, but still up 0.0446 over the last five days. On the other hand, Zynga Inc. (NASDAQ:ZNGA) is 0.02% up in the 30-day period. We can see from the shorts that 79.09 Million shares have been sold at a short interest cover period of 3.42 day (s).
The consensus price target as assigned by Wall Street analysts is $12.99, which translates to bears needing to increase their stock price by 23.24% from its current value. Analyst projections state that ZNGA is forecast to be at a low of $9 and a high of $15. In order for the stock price to hit the forecast high, the stock would need to surge +42.31% from its current level, while the stock would need to crash -14.61% from its current level to reach the projected low.
Zynga Inc. (ZNGA) projections and forecasts
Zynga Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +13.09 percent over the past six months and at a 471.43% annual growth rate that is well above the industry average of 22.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +50% in revenue this quarter, and will report a decline of -10% in the next quarter. The year-over-year growth rate is expected to be 24.8%, up from the previous year.
Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $685.34 Million in revenue for the current quarter. 16 analysts expect Zynga Inc. to make $689.89 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $424.88 Million and $518.13 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 61.3%. Forecasts for the next quarter put sales growth at 33.1%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -26%. Zynga Inc. earnings are expected to increase by 14.3% in 2021, but the outlook is positive 12.61% per year for the next five years.
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Zynga Inc. (NASDAQ:ZNGA)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 6.85% of Zynga Inc. shares, and 79.22% of them are in the hands of institutional investors. The stock currently has a share float of 85.05%. Zynga Inc. stock is held by 633 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2020, it held 8.63% of the shares, which is about 93.42 Million shares worth $922.07 Million.
Artisan Partners Limited Partnership, with 7.42% or 80.33 Million shares worth $792.9 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 28963124 shares worth $285.87 Million, making up 2.67% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 24.3 Million shares worth around $239.83 Million, which represents about 2.24% of the total shares outstanding.